LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – CORPORATE SEC.
FIFTH SEMESTER – NOVEMBER 2010
BC 5503 – COMMERCIAL LAW
Date : 03-11-10 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
PART – A
Answer ALL Questions (10 x 2 = 20 marks)
- Define a contract of indemnity.
- What is Revocation of guarantee?
- Define bailment.
- What is pledge?
- State whether a partnership agreement should be registered.
- What is meant by dissolution of the firm?
- What is meant by consumer dispute?
- Define a Consumer.
- What is VAT?
- State the objectives of consumer protection?
PART – B
Answer any FIVE Questions (5 x 8 = 40 marks)
- State the rights of the indemnified.
- State the circumstances under which a contract of guarantee is discharged.
- State the rights of the pledgee.
- Define finder of the lost goods.
- State the disadvantages of not registering a firm.
- State the methods under which a partnership firm could be dissolved.
- State the advantages of the consumer protection Act.
- Explain the advantages of tax credit system in VAT.
PART – C
Answer any TWO of the following Questions (2 x 20 = 40 marks)
- Explain the rights and duties of bailor and bailee.
- What are the rights of the surety against (i) The principal debtor (ii) The credit before and
after payment of guaranteed sum (iii) Co-surety?
- State the salient provisions of the consumer protection Act of 1986 and how far it meets
the present requirements and grievances of the modern consumer.
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